Shipyards in Korea took market share from Chinese yards in 2011 South Korean yards took market share from Chinese yards in 2011 according to a recent report in the Danish Ship Finance Review. South Korea secured new orders of 13.5 million cgt Korean yards secured almost half of the contracted capacity (13.5 million cgt). Container and Tanker orders accounted for 85% (6 million cgt and 5 million cgt respectively). South Korea therefore maintains the position as the leading global builder of Containers and Tankers. But South Korean yards also added to their market position in the specialized tonnages. For example, orders of 1 million cgt were placed for Drillships in 2011. European owners signed 60% of the orders placed in South Korea during 2011. The order cover dropped on average 14% to 28 months in 2011. Chinese yards struggled to keep pace with their South Korean peers. In 2011, Chinese yards received new orders of 9.5 million cgt (19.5 million cgt in 2010) – primarily Dry Bulk tonnage, which accounts for 60% of the Chinese orderbook. Two thirds of all new orders were placed on behalf of Chinese or European owners. The order cover of Chinese yards dropped, on average, 17% to 28 months in 2011.
A group of Naples ship owners have come to an agreement with the Chinese yard Jiangsu New Yanagzijang Construction Co. for the building of 16 90,000 ton bulk carriers. Nicola Coccia Confitarma president with a group of Naples ship-owners and representatives of the Chinese yard signed the agreement on June 20. The order was placed by Perseveranza di navigazione,d’Amato di navigazione spa, Gestioni Amatoriali spa, la Giuseppe Bottiglieri di navigazione spa e Liberty Marittime International who
According to a report from Bloomberg, Japanese shipbuilders, leapfrogged by South Korean and Chinese yards in an industry they once dominated, are counting on fuel-saving technology to help them overcome a stronger yen and high wages. A Japanese handysize dry-bulk ship typically uses about 24 tons of fuel a day, compared with 28 tons for Chinese-made ones, a Bloomberg source said. Source: Bloomberg
STX Shipbuilding Co., the first South Korean yard in China, had its biggest two-day gain in more than a week in Seoul on optimism the purchase of a stake in Norway's Aker Yards ASA will add cruise liners to its range of vessels. STX Shipbuilding has more than quadrupled this year, making it the fourth-best performer in South Korea's Kospi 200 index. The stake purchase in Aker Yards will allow STX Shipbuilding to use the Norwegian company's expertise in cruise liners
Asked what was previously on the site of the new Jiangmen Yinxing Shipbuilding yard, a company representative replies, “Mountains, we moved mountains to build ships.” With funds reportedly earned from ship breaking, Jiangmen Yinxing's parent firm has built two shipyards, one for building vessels 10,000 to 80,000 tons and this yard, at Jiangmen on a branch of the Pearl River, for vessels under 10,000 tons. In addition to several huge sheds the yard has several covered and open building and
Diversified SembCorp Industries Ltd., fresh from sales of key non-core assets, is hunting for foreign partners in its bid to become a global contender in its core businesses, President Wong Kok Siew said. Already Asia's largest shipyard operator, SembCorp is confident about meeting its internal target of not less than 20 percent growth in net profit per annum and has set its sights beyond Asia. "With the major divestments of non-core over
March 29, 2011 - Athens, Greece - OceanFreight Inc., (NASDAQ:OCNF) a global provider of seaborne transportation services for both drybulk and energy commodities, announced today that it has entered into an agreement to purchase two resale newbuilding 206,000 DWT capesize vessels at a well-known Chinese yard. The vessels are scheduled to be delivered in the second and fourth quarter of 2013. The vessels will be purchased from a Company ultimately controlled by our Founder and Chief Executive
The third Ulstein designed platform supply vessel of the PX105 design for Seatankers, Sea Forth, was delivered on August 16, 2013 from the Zhejiang yard in Ningbo. Ulstein delivers twelve design and equipment packages to the Chinese yard, where all the vessels for Seatankers Group will be constructed. The packages include design, engineering and equipment supplies. The ships comply with the DNV requirements of the Clean or Clean Design standards.
Berg Propulsion has secured the first Asian reference for its Berg Azimuth Thruster (BAT), launched earlier this year, in what is also the first order to involve the product’s installation by a Chinese yard. Berg has signed a contract with Singaporean oil and gas field support and logistics contractor Teras Offshore to deliver its largest BAT units to date, in the shape of two 2,500 Kw (1,600 rpm) output BAT 730 units, as well as two BTT 519 tunnel thrusters.
MAN Diesel’s organization has landed another engine contract in the specialized segment for large floating cranes and construction barges. A newly designed (DLV4400) heavy-lift floating crane from Shanghai Zhenhua Port Machinery Co Ltd (ZPMC) with a 4,400 ton lifting capacity will be powered by 7 x MAN Diesel 9L32/40 GenSets. The total installed output of 31.5 MW will supply propulsion power, power for maneuvering, for the crane activities
Singapore's Swissco Holdings say they have placed orders with China shipyards for two anchor handling tug supply vessels (“AHTS”) and a fast utility/crew boat with a one plus one option. The newbuild vessels, excluding owner supplied equipment, are worth an aggregate of S$42 million
Scorpio Bulkers Inc. has entered into agreements to purchase five Kamsarmax dry bulk vessels currently under construction in a Chinese shipyard as listed below: Yard
RS say that Russia-China ties are developing actively and that China's maritime industry capabilities are of great interest to their Russian clients. Consequently RS will be exhibiting at this year's Marintec China expo in Shanghai.
Cabotage regulations for cargo moving to and from Shanghai have been formally liberalised. Whilst this should be positive for the port’s transhipment activity, the effect is likely to be limited, concludes a recent Drewry Maritime Research analysis, excerpted as follows:
Eight crew members of 19 crew aboard a Panama-flagged Chinese-owned 8,461-tonne freighter, died after their vessel sank in rough seas off the South Korean harbour of Pohang, reports Xinhua. The vessel, the CHENGLU15, owned by China’s Lishen International Shipping Group
Singapore based Pacific Radiance Group ordered two platform supply vessels (PSV) of the Ulstein PX121 design for construction at a Chinese yard. The vessels are estimated for deliveries in Q2 and Q3 2015. The contract includes options for two more vessels.
Group revenue increased 19.0% to S$465.4 million due to higher contributions from shipbuilding, shipchartering and engineering segments Gross profit margin improved across all business segments, taking gross profit 47.0% higher to S$83.6 million
The guided-missile destroyer 'USS Mason' (DDG 87) personnel participated in a counter piracy exercise in the Gulf of Aden with elements of the Chinese People's Liberation Army (Navy) (PLA(N)), aboard the destroyer 'Harbin' and Chinese auxiliary replenishment oiler Weishanhu (AO 887).
Waigaoqiao-controlled Shanghai Jiangnan Changxing Heavy Industry has signed a shipbuilding contract with CSSC Shipping (Hong Kong) to build three 16,000 TEU ships, the largest ever built by Chinese yards, reports China Logistics Portal. Jointly designed by Waigaoqiao Shipbuilding and
Deltamarin Ltd. signed a contract with the Chinese Tianjin Xingang Shipbuilding Heavy Industry for Approval and Detail Design work for the two (plus two options) Post Panamax Car Carriers ordered by the Swedish shipowner Wallenius Lines. Prior to this contract
Singapore's Keppel Corp Ltd and Sembcorp Marine Ltd, the world's top offshore rig-makers, stand to be among the winners through Beijing's moves to tighten credit amid a downturn at China's shipyards, reports Reuters. The two companies have been under mounting pressure from Chinese yards
Hyundai Heavy Industries Co., the world’s biggest shipbuilder, plans to raise prices as demand for fuel-efficient vessels increases, reports the Japan News, citing Bloomberg, Singapore. Hyundai Heavy’s optimism helped drive up shares of South Korean shipbuilders Monday and contrasts
The Chinese government is expected to introduce support for the shipbuilding industry soon according to Asiais.com Citing an An Economic Information of China report, Asiais.com says that a 'Three-Year Plan to Strengthen China’s Shipbuilding Industry' is in the final stage of mediation
'CNS Mianyang' takes over escort duties of a World Food Programme (WFP) aid ship from Italian warship 'ITS Zeffiro'. The Italian warship had been escorting the WFP vessel since she entered the pirate High Risk Area in the Western Indian Ocean a few days earlier.
The last 12 months has been one for the books ... or the trash. There was no shortage of government inducements to turn the lackluster tide in 2012—stimulus spending in China and Japan, quantitative easing by the U.S